Physical Address City State Zip Code. Mailing Address (if different) City State Zip Code

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1 P.O. Box San Antonio, Texas USAA Investment Business Entity/Organization Account Application STEP 1: Verify and complete all applicable sections of the application. Make changes to incorrect information directly on this application. STEP 2: Return completed, signed and dated application in its entirety and required documents (if applicable) to USAA Investment Management Company (IMCO). Account Type (Select One) M Pension M Profit Sharing Plan M Sole Proprietorship/DBA M Investment Club M Broker Dealer M Financial Institution Required Information for Business Entity/Organization 1. Business Entity/Organization Information Name of Business Entity/Organization Business Entity Creation Date (mm/dd/yyyy) Physical Address City State Zip Code Mailing Address (if different) City State Zip Code Business Entity Headquarter Address (if different from Physical Address above) Tax ID Number Employer Identification Number (EIN) Social Security Number (SSN) Type of Business Industry Business entity annual gross sales Is the entity organized under U.S. state or federal law? Yes No If yes, please specify state If no, please specify country of organization Are any person(s) other than the authorized agent(s) listed below a 25% or more beneficial owner in the above listed entity? No Supplemental Account Application not required. Yes Complete Supplemental Account Application. Yes No Yes No Yes No Yes No Is the entity a broker/dealer? If yes, are you a U.S. broker/dealer Foreign broker/dealer (A broker/dealer organized under foreign law or an agency, branch or office located outside the United States of a U.S. broker/dealer.) Is the entity a bank? If yes, are you a U.S. bank Foreign bank (A bank organized under foreign law or an agency, branch or office located outside the United States. This doesn t include an agent, agency, branch or office within the United States of a bank organized under foreign law.) Is the entity a foreign branch of a U.S. financial institution? Is the entity a business organized under a foreign law that, if it were located in the U.S., would be a securities, broker/dealer, futures commission merchant, introducing broker in commodities, or a mutual fund? USAA Financial Advisors, Inc. m USAA (8722) m Fax m usaa.com Page 1 of

2 Yes No Is the entity a money transmitter or currency exchanger organized under foreign law? Yes No Does the entity offer correspondent accounts to other financial institutions? (A correspondent account is an account established to receive deposits from or make payments on behalf of a financial institution, or handle other financial transactions related to such institution.) Select the type of financial institution, if the entity offers correspondent accounts. Yes No Domestic (U.S.) Foreign Both If the entity provides correspondent accounts to foreign financial institutions, does the entity perform trades in its USAA investment and/or mutual fund account(s) on behalf of any of its foreign financial institution correspondent customers? If yes, please provide us with a list of the investment and/or mutual fund account numbers in which trades are performed for the benefit of your foreign financial institution correspondent customers. Yes No Is the entity a financial institution that is not described above? If yes, please describe the type of financial institution. Yes No Yes No Yes No Does the entity maintain a physical presence and perform business functions at the address listed above? Does the entity employ individuals on a full-time basis? Does the entity maintain operating records related to its business activities? 2. Authorized Agent for Business Entity/Organization USAA Number Social Security Number (required) Date of Birth (mm/dd/yyyy) First Name MI Last Name Suffix Physical Address (P.O. Box cannot be accepted.) City State Zip Code Mailing Address (if different) City State Zip Code Residence Phone Number (include area code) Business Phone Number (include area code) Address Employment Status Employed Retired Not Employed If you selected Retired or Not Employed above, please select a primary source of income: 401K Social Security Pension TSP Savings/Investments Inheritance Other If you selected Employed above, please provide your employer name and address: Employer s Name Occupation Employer s Address City State Zip Code Are you a senior foreign political figure or family member or associate of a senior foreign political figure? Yes No If yes, senior foreign political figure s name Are you a U.S. citizen? Yes No Page 2 of 7

3 If non-u.s. Citizen, indicate Residence Status: Resident Alien Non-resident Alien If Resident Alien, please specify country of citizenship U.S. Permanent Resident Card Number (Required) Passport number issued by country of citizenship (Optional) AND provide the following: Expiration Date Expiration Date Company Affiliations Are you associated with or employed by a stock exchange, municipal securities dealer, securities broker or dealer (other than the USAA Investment Management Company (IMCO) or USAA Financial Advisors, Inc. (FAI)), or by the Financial Industry Regulatory Authority (FINRA)? If you are associated with a FINRA member firm other than IMCO or FAI, you must obtain the prior written consent of that firm before you can open or otherwise establish with FAI any account in which securities transactions can be effected and in which you have a beneficial interest. Yes No If yes, firm name: Are you, your spouse, or any member of the household affiliated with a publicly traded company under SEC Rule 144 as a: Director Policy Maker 10% or greater Shareholder If yes, Company Name: Company Symbol/CUSIP: 3. Additional Authorized Agent for Business Entity/Organization USAA Number Social Security Number (required) Date of Birth (mm/dd/yyyy) First Name MI Last Name Suffix Physical Address (P.O. Box cannot be accepted.) City State Zip Code Mailing Address (if different) City State Zip Code Residence Phone Number (include area code) Business Phone Number (include area code) Address Employment Status Employed Retired Not Employed If you selected Retired or Not Employed above, please select a primary source of income: 401K Social Security Pension TSP Savings/Investments Inheritance Other If you selected Employed above, please provide your employer name and address: Employer s Name Occupation Employer s Address City State Zip Code Are you a senior foreign political figure or family member or associate of a senior foreign political figure? Yes No If yes, senior foreign political figure s name Are you a U.S. citizen? Yes No If non-u.s. Citizen, indicate Residence Status: Resident Alien Non-resident Alien If Resident Alien, please specify country of citizenship U.S. Permanent Resident Card Number (Required) Passport number issued by country of citizenship (Optional) AND provide the following: Expiration Date Expiration Date Page 3 of 7

4 Company Affiliations Are you associated with or employed by a stock exchange, municipal securities dealer, securities broker or dealer (other than the USAA Investment Management Company (IMCO) or USAA Financial Advisors, Inc. (FAI)), or by the Financial Industry Regulatory Authority (FINRA)? If you are associated with a FINRA member firm other than IMCO or FAI, you must obtain the prior written consent of that firm before you can open or otherwise establish with FAI any account in which securities transactions can be effected and in which you have a beneficial interest. Yes No If yes, firm name: Are you, your spouse, or any member of the household affiliated with a publicly traded company under SEC Rule 144 as a: Director Policy Maker 10% or greater Shareholder If yes, Company Name: Company Symbol/CUSIP: 4. Financial Information - Business Entity (All the information below is required by industry regulations.) Annual Income $0 - $24,999 $25,000 - $49,999 $50,000 - $99,999 Over $100,000 $ (combined for joint owners) Net Worth $0 - $34,999 $35,000 - $49,999 $50,000 - $249,999 $250,000 and over $ Approximate Net Worth excluding primary residence (combined for joint owners) Liquid Assets $0 - $9,999 $10,000 - $19,999 $20,000 - $99,999 $100,000 and over $ Total assets that are cash or are easily converted to cash for all account owners. Tax Bracket 10% 12% 22% 24% 32% 35% 37% Primary Investment Objective (Select One) Capital Preservation Growth Income 5. Pension/Profit Sharing Accounts only - For Benefit Of (FBO) Information, if applicable Note: If FBO has trading authority, complete Section 3. USAA Number Social Security Number (required) Date of Birth (mm/dd/yyyy) First Name MI Last Name Suffix Physical Address (P.O. Box cannot be accepted.) City State Zip Code Mailing Address (if different) City State Zip Code Residence Phone Number (include area code) Business Phone Number (include area code) Address Are you a U.S. citizen? Yes No If non-u.s. Citizen, indicate Residence Status: Resident Alien Non-resident Alien If Resident Alien, please specify country of citizenship U.S. Permanent Resident Card Number (Required) Passport number issued by country of citizenship (Optional) AND provide the following: Expiration Date Expiration Date Page 4 of 7

5 Account Servicing Instructions 6. Uninvested Cash/Core Account Your core account is used for processing cash transactions and for holding cash awaiting reinvestment or withdrawal. The USAA Treasury Money Market Trust will be your core account investment vehicle. Please refer to the Customer Account Agreement for more information regarding uninvested cash and your core account. 7. Dividends Select one of the following options to handle dividends from all eligible securities. NOTE: If you make no selection, dividends will be held as cash. Hold as uninvested cash in the core account. Reinvest dividends of all eligible securities. 8. Banking Information Provide banking information to allow for Electronic Funds Transfer (EFT) services through a standing instruction. (Select One) Checking Savings Name of Financial Institution Name of Account Owner(s) Type of Account Transit Routing Number (The nine-digit number in lower left corner of check) Account Number NOTE: Bank Account Owner name(s) and this investment account owner name(s) should be identical. You will need to attach a voided check, deposit slip, or financial institution statement with the account number and all owner names preprinted on it. Account number and all owner names must be preprinted and unaltered. REQUIRED Tape your voided check or preprinted deposit slip here. 9. Account Funding $ Investment/Transfer Amount M Check $ Note: Make checks payable to USAA Investment Management Company (IMCO). M Transfer from another financial institution. After your account is established, you may initiate your transfer on usaa.com on the Investments/Transfer Non-USAA Investment Account section or you may contact us for assistance. NOTE: If you wish to transfer cash or securities from another USAA Investment Account, please include a separate letter of instruction signed by all account owners on the sending account. 10. Trusted Contact Any authorized agent of the corporation (including authorized agents listed on this form and all officers of the corporation) will be a Trusted Contact person. A Trusted Contact, as used herein, is a person, aged 18 or older, whom USAA may contact in the event that USAA has certain questions about the entity, as described below. By designating an individual as authorized agent or officer, you expressly authorize USAA to contact them as a Trusted Contact person and disclose information about the entity s products and services at USAA (including, but not limited to, securities, insurance, banking, financial planning, or any financial information you have provided to USAA) to that person in the following circumstances: to address possible financial exploitation; to confirm the specifics of the entity s current contact information, or the identity of any authorized representative, executor, trustee or holder of a power of attorney; to help prevent the entity s account from being declared abandoned or unclaimed if USAA is unable to locate an authorized representative of the entity; to confirm the whereabouts, authority, or capacity of an authorized representative of the entity; or as otherwise permitted by FINRA Rule 2165 (Financial Exploitation of Specified Adults). Please note that USAA is limited in its ability to detect whether one or more of the events listed above has occurred for the entity. Interactions between USAA and its clients are limited in duration and generally occur telephonically or online. Page 5 of 7

6 Read and Sign In the section below, NFS, us, and we refer to National Financial Services LLC and its officers, directors, employees, agents, affiliates, shareholders, successors, assignees, and representatives as the context may require; you refers to the account owner(s) indicated on the account form and any authorized individuals; you refers to all account owner(s) collectively and individually; Broker/Dealer refers to the correspondent servicing your account. USA PATRIOT Act Notice: To help the government fight the funding of terrorism and money laundering, federal law and contractual obligations between your Broker/Dealer and us require us to obtain your name, date of birth, address and a government-issued id number before opening your account, and to verify the information. In certain circumstances, we may obtain and verify comparable information for any person authorized to make transactions in an account or beneficial owners of certain entities. Additional documentation is required for certain business entity accounts and other organizations. Your account may be restricted if we or your Broker/Dealer cannot obtain and verify this information. We or your Broker/Dealer will not be responsible for any losses or damages (including, but not limited to, lost opportunities) that may result if your account is restricted or closed. By signing below, you: Affirm that you are at least 18 years of age and are of full legal age in the state in which you reside, and you are authorized to enter into this agreement. Affirm that there are no other Authorized Agent(s) of the Business Entity/Organization other than those listed in the Personal Information Section or identified on a separate sheet of paper attached to this application. Affirm that the attached pages of the Business Entity/Organization document are true copies of the valid legal document currently in effect. If only one person executes this application, such person represents that the signer is the sole Authorized Agent. Affirm that you have the power under the Business Entity/Organization and applicable law to enter into the transactions and issue the instructions that you make in this account. Such power includes, without limitation, the authority, to retain an investment adviser, to buy and sell any security (including mutual funds), exchange, convert, tender, redeem and withdraw assets (including delivery of securities and cash to and from the account) for and at the risk of the Business Entity/Organization. You understand that all orders and transactions will be further governed by the terms and conditions of all other account agreements applicable to this account. Certify that any and all transactions effected and instructions given on this account will be in full compliance with the Business Entity/Organization agreement and applicable law. You agree to inform your Broker/Dealer in writing of any changes in the composition of the Authorized Agent(s), or any other event that could alter the certifications made above. Authorize your Broker/Dealer to accept orders and other instructions for this account from those individuals identified in this Application or identified later in an appropriate form certifying changes to the composition of the Authorized Agent(s). This includes the authority to deliver any or all assets in the account to any Authorized Agent(s) (personally or otherwise), or according to any Authorized Agent(s) instructions. We or your Broker/Dealer, at our option and for our protection, may require approval of other Authorized Agent(s) before acting on any such order or instruction. Affirm that you have received, read, understand, and agree to the current terms of Customer Account Agreement and the account features you selected and agree to future amendments to these terms and request that you accept one or more accounts in my name. Understand that unless you provide written notice to the contrary, your Broker/Dealer may supply your name to issuers of securities held in your account so you can receive important information regarding such securities. M Do not disclose. Represent and warrant that if you have not checked the boxes for Company Affiliations, you are not affiliated with or employed by a stock exchange, the Financial Industry Regulatory Authority, or a Broker/Dealer and you are not a control person or affiliate of a public company under SEC Rule 144 (such as a director, 10% shareholder, or a policymaking officer), or an immediate family or household member of such a person. You further represent that you are not a designated large trader pursuant to SEC Rule 13h-1. In the event that any of the foregoing representations is inaccurate or becomes inaccurate, you agree to promptly notify your Broker/Dealer. Affirm that you have also read, understand, and agree to the terms of the applicable prospectus for any mutual fund that you purchase or exchange and into which you have funds transferred or invest, including any mutual fund that serves as your core account investment vehicle, and that you agree to future amendments to these terms. Have instructed your Broker/Dealer to establish, as your agent, an account with us. You have appointed your Broker/Dealer as your exclusive agent to act for and on your behalf with respect to all matters regarding your account with us, including the placing of securities purchase and sale orders; to act in all respects in connection with your core account investment vehicle; and, provided margin and/or options trading have/has been approved, delivery of margin and option instructions for your account. No fiduciary relationship exists with us. Understand that we will look solely to your Broker/Dealer and not you with respect to such orders or instructions, and we are instructed to deliver confirmations, statements, and all other notices, including margin maintenance calls, if applicable, to your Broker/Dealer. Any such communications delivered to your Broker/ Dealer shall be deemed to have been delivered to you. You agree to hold us harmless from and against any losses, costs, or expenses arising in connection with the delivery or receipt of any such communication(s), provided we have acted in accordance with the above. The foregoing shall be effective until written revocation is received by us and your Broker/Dealer. Authorize us and your Broker/Dealer to initiate electronic transactions to, from, or between the financial institution accounts as set forth above, including transactions that may be necessary to correct any errors. You understand that this account information will be stored and will be available for future transactions, including transactions you request by phone or through usaa.com. You understand that EFT services are automatically included when you sign up for an Automatic Investment Plan. Authorize us and your Broker/Dealer to debit your account at the financial institution as set forth above. If the amount set forth above is between $20 and $500, you authorize your Broker/Dealer to accept your instructions, whether in writing, by telephone, or on usaa.com, to change the amount, frequency, and date of the recurring debit, including debits that may be necessary to correct any errors. If the amount of the debit exceeds $500, your Broker/Dealer will provide a written confirmation of the change to the recurring debit at least 10 days before the effective date of the changed debit amount, date of the recurring debit, or frequency. You agree that automated credit entries to your account and debits from your account at the financial institution named above will constitute receipt and acceptance of the transaction. If you instruct your Broker/Dealer to change the amount, frequency or date of the electronic debit, you waive the right to receive notice of the change if the amount of the debit is no less than $20 and no more than $500. For your protection, Broker/Dealer or NFS may require additional verification of your identity and/or your instructions before acting on your request. You understand that verification or any other review conducted by Broker/Dealer or NFS may delay or prevent carrying out your request, including but not limited to the execution of your order, and you may receive an execution price that is different from the execution price when you submitted the order while awaiting the completion of verification and/or review. [If we are unable to reach you to verify your transaction within five days, we may cancel your transaction.] Neither Broker/Dealer nor NFS is liable for any delayed executions, canceled orders, or requests not acted upon as a result of a review or verification. Understand that the EFT authority provided in this document will remain in effect until you notify your Broker/Dealer to terminate the authority and give your Broker/Dealer reasonable opportunity to act on the notice of termination. You acknowledge that the origination of ACH transactions to your account must comply with U.S. law. Page 6 of 7

7 Release USAA from any liability and hold USAA harmless for contacting a Trusted Contact, failing to contact a Trusted Contact, or any actions relating to contact with a Trusted Contact, without limitation. Understand that the securities purchased or sold in your account are not deposits in, or obligations of or guaranteed by, USAA Federal Savings Bank or any other bank; are not insured or guaranteed by the FDIC or any other government agency; and are subject to investment risks, including possible loss of the principal invested. Important Information Regarding Escheatment. The property within your account, including mutual fund shares, cash, securities or other assets may be transferred to the appropriate state if no activity occurs or if statements and confirmations of your account activity prove undeliverable, within time periods specified by state law. Applications without a signature and date, and/or Social Security Number or Tax Identification Number will not be accepted until the signature or other required information is provided. Taxpayer Identification Number/Backup Withholding Certification (Selection May be Required) Under penalties of perjury, I certify that: 1. The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me); and 2. I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding; and 3. I am a U.S. citizen or other U.S. person; and 4. The Foreign Account Tax Compliance Act (FATCA) code(s) entered on this form (if any) indicating that I am exempt from FATCA reporting is correct (not applicable) Certification instructions. You must check this box M if you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all interest and dividends on your tax return. For real estate transactions, item 2 does not apply. For mortgage interest paid, acquisition or abandonment of secured property, cancellation of debt, contributions to an individual retirement arrangement (IRA), and generally, payments other than interest and dividends, you are not required to sign the certification, but you must provide your correct TIN. For instructions, see page 3 of IRS Form W-9. This account is governed by a predispute arbitration clause which is located in Appendix A, page A-1 of the Customer Account Agreement. You acknowledge that you have read, understood and agreed to the terms of the predispute arbitration clause. The Internal Revenue Service does not require your consent to any provision of this document other than the certifications required to avoid backup withholding. x Signature of Authorized Agent x Signature of Additional Authorized Agent Date (mm/dd/yyyy) Date (mm/dd/yyyy) Printed Name of Authorized Agent Printed Name of Additional Authorized Agent Brokerage accounts are introduced and brokerage services provided by USAA Financial Advisors, Inc. (FAI) and USAA Investment Management Company (IMCO), both registered broker-dealers, Members SIPC. Clearing, custody and other services provided by National Financial Services LLC (NFS), Member NYSE, SIPC. Page 7 of 7

8 PO Box San Antonio, Texas Supplemental Account Application STEP 1: Complete for all individuals or other entities that have 25% or more direct or indirect ownership in the (e.g., Pension/Profit Sharing Plan, Not-For-Profit Organization and Investment Club) STEP 2: Return completed, signed and dated with the application to USAA Investment Management Company (IMCO). Business Entity/Organization Information Name of Business Entity/Organization (e.g., Profit/Sharing Plan) Entity Tax ID Number or Social Security Number Required Information All person(s) or entities that have a 25% or more direct or indirect ownership in the entity (named above) and who are not an authorized agent of this entity account, must complete Section A (Individual) and/or Section B (Entity) accordingly; then complete Section C. A. Individual - Please complete the information below for each individual owner. USAA number, if applicable Social Security number Date of birth (mm/dd/yyyy) First Name MI Last Name Suffix Other names the individual uses, if any Physical address City State Zip code Mailing address City State Zip code Percentage of ownership in Business Entity/Organization Are you a senior foreign political figure or family member or associate of a senior foreign political figure? Yes No If yes, senior foreign political figure s name Are you a U.S. citizen? Yes No If non-u.s. Citizen, indicate Residence Status: Resident Alien Non-resident Alien If Resident Alien, please specify country of citizenship U.S. Permanent Resident Card Number (Required) Passport number issued by country of citizenship (Optional) AND provide the following: Expiration Date Expiration Date USAA Investment Management Company m USAA (8722) m Fax m usaa.com Page 1 of

9 Additional Individual - If applicable USAA number, if applicable Social Security number Date of birth (mm/dd/yyyy) First Name MI Last Name Suffix Other names the individual uses, if any Physical address City State Zip code Mailing address City State Zip code Percentage of ownership in Business Entity/Organization Are you a senior foreign political figure or family member or associate of a senior foreign political figure? Yes No If yes, senior foreign political figure s name Are you a U.S. citizen? Yes No If non-u.s. Citizen, indicate Residence Status: Resident Alien Non-resident Alien If Resident Alien, please specify country of citizenship U.S. Permanent Resident Card Number (Required) Passport number issued by country of citizenship (Optional) AND provide the following: Expiration Date Expiration Date B. Legal Entity - Please complete the information below for each entity owner. USAA number, if applicable Doing business as (DBA) or also known as (AKA) Entity name Physical address City State Zip code Mailing address City State Zip code State of entity formation, if foreign entity, country. Date entity created Employer identification number, if applicable Percentage ownership in Business Entity/Organization Page 2 of 3

10 Additional Legal Entity - If applicable USAA number, if applicable Doing business as (DBA) or also known as (AKA) Entity name Physical address City State Zip code Mailing address City State Zip code State of entity formation, if foreign entity, country. Date entity created Employer identification number, if applicable Percentage ownership in Business Entity/Organization C. Signature By completing and signing below, you certify that the information provided in this Supplemental Account Application is true and correct. You understand that IMCO is relying on this information to maintain your investment, managed, and/or mutual fund account(s). x Signature of Trustee/Authorized Agent Date (mm/dd/yyyy) Printed name of Trustee/Authorized Agent Title of Authorized Agent Brokerage accounts are introduced and brokerage services provided by USAA Financial Advisors, Inc. (FAI) and USAA Investment Management Company (IMCO), both registered broker-dealers, Members SIPC. Clearing, custody and other services provided by National Financial Services LLC (NFS), Member NYSE, SIPC. Page 3 of 3

11 P.O. Box San Antonio, Texas New Business Entity/ Organization Account Required Documents List STEP 1: Select one account type. STEP 2: Return required documents to USAA Investment Management Company (IMCO) with your completed account application. Type of Entity Pension/Profit Sharing Plan Required Documents Copy of Plan Documents specifying: Name/date of plan Names of trustees Signature Pages If the Pension/Profit Sharing Plan has its own tax identification number (EIN), IRS EIN Issuance Confirmation Letter (CP-575 Notice) or Replacement Confirmation Letter (Letter 147c) Supplemental Account Application if applicable Foreign entities must include an IRS Form W-8BEN-E Sole Proprietorship/DBA Business/Operating License, Fictitious Name Registration, or Certificate of Registration from the Secretary of State s Office Letter of Instruction specifying who has authority to act on the account If the Sole Proprietorship has its own tax identification number (EIN), IRS EIN Issuance Confirmation Letter (CP-575 Notice) or Replacement Confirmation Letter (Letter 147c) Supplemental Account Application if applicable Investment Club Articles/Certificate of Organization or Operating Agreement Resolution or letter of instruction specifying who has authority to act on the account IRS EIN Issuance Confirmation Letter (CP-575 Notice) or Replacement Confirmation Letter (Letter 147c) Supplemental Account Application if applicable Foreign entities must include an IRS Form W-8BEN-E Broker Dealer/Financial Institution Corporate Resolution or letter of instruction specifying who has authority to act on the account Articles of Incorporation Certificate of Good Standing or Certificate of Existence/Status issued by the Secretary of State s Office IRS EIN Issuance Confirmation Letter (CP-575 Notice) or Replacement Confirmation Letter (Letter 147c) Supplemental Account Application if applicable USAA Investment Management Company m USAA (8722) m Fax m usaa.com Page 1 of

12 USAA Investment Management Company USAA Financial Advisors, Inc. USAA Federal Savings Bank Updated ERISA Section 408(b)(2) Disclosure (for ERISA plans other than 403(b) and 403(b)(7) plans) dated June 2018 This is an updated version of the information which we are required to provide to you, if you are a fiduciary for an employee benefit plan ( Plan ) that is subject to the Employee Retirement Income Security Act of 1974 ( ERISA ) who is responsible for your Plan s overall arrangement with USAA Investment Management Company, USAA Financial Advisors, Inc., and/or USAA Federal Savings Bank (collectively, the USAA Service Providers ), as applicable. The USAA Service Providers are affiliates. Under the U.S. Department of Labor ( DOL ) regulation on reasonable contracts or arrangements under ERISA Section 408(b)(2) ( 408(b)(2) regulation ), covered service providers are required to provide a responsible Plan fiduciary with certain information about the services they provide to the Plan and related compensation, including direct and indirect compensation they receive for such services. One or more of the USAA Service Providers may be a covered service provider with respect to your Plan. If you are not a responsible Plan fiduciary, this document nevertheless provides information that may be helpful to you. This document describes information about fees and other compensation the USAA Service Providers reasonably expect to receive in connection with services provided to your Plan and is intended to comply with the 408(b)(2) regulation. You may obtain additional information by calling USAA (8722). I. SERVICES UNDER CONTRACT OR ARRANGEMENT WITH PLAN AND STATUS USAA Investment Management Company ( IMCO ) Brokerage Services IMCO acts as an introducing broker-dealer to Plan clients. More information about IMCO s brokerage services is contained in your brokerage agreement. Investment Advisory Services IMCO also provides investment advisory services to individuals and other entities through its USAA Managed Portfolios - UMP ( UMP or the Wrap Program ). IMCO may choose USAA Asset Management Company ( AMCO ) or one or more third-party investment advisers to provide certain sub-advisory services in connection with UMP. More information about UMP is contained in your UMP Investment Advisory Agreement and Brochure (Form ADV). IMCO provides its advisory services in its capacity as an investment adviser registered under the Investment Advisers Act of 1940 ( Advisers Act ) and as an ERISA fiduciary. USAA Financial Advisors, Inc. ( FAI ) Brokerage Services FAI acts as an introducing broker-dealer to Plan clients. More information about FAI s brokerage services is contained in your brokerage agreement and can also be obtained by calling USAA (8722). USAA Federal Savings Bank ( FSB ) Sweep and Related Account Services FSB provides certain services in connection with brokerage services provided by IMCO and National Financial Services LLC ( NFS ). Uninvested cash in the Plan s brokerage account may be swept into a deposit product offered by FSB, and FSB provides related administrative services for the Plan. National Financial Services LLC ( NFS ) NFS is not affiliated with the USAA Service Providers. IMCO and FAI have entered into clearing agreements

13 with NFS pursuant to which NFS, as an unaffiliated subcontractor, provides clearing brokerage services to Plan brokerage clients for which IMCO or FAI serve as the introducing broker and to Plan clients in certain of IMCO s Wrap Programs, which are described herein. As clearing broker, NFS provides brokerage execution and related settlement, transaction processing, and custodial services as well as sweep services for uninvested cash in your Plan s brokerage account(s). More information about NFS brokerage services is contained in your brokerage agreement. None of the USAA Service Providers or NFS provides recordkeeping services to Plans. II. DIRECT COMPENSATION IMCO For its advisory services under a Wrap Program, IMCO receives an advisory fee paid from the Plan account. Detailed information about the standard advisory fees IMCO receives is available in the Brochure for the Wrap Program. If you have converted to UMP from a program that USAA has consolidated into UMP, or if you have negotiated non-standard fees, your advisory fee is described in the fee schedule that we provided you when you initially participated in UMP or such consolidated program, as applicable. You may obtain another copy of your fee schedule by calling a USAA representative at FAI FAI receives no compensation directly from the Plan in connection with its brokerage services described above. NFS For its brokerage services described above, NFS receives compensation directly from the Plan s accounts in the form of commissions and service-specific fees that may vary depending upon the particular investment or service. See the commission schedule, Customer Account Agreement, margin agreement, certificate of deposit disclosure, FSB deposit account disclosure for a schedule of rates and fees. However, Wrap Program accounts are not charged a separate or additional commission on transactions in addition to the Wrap Program advisory fee described above. NFS may act as principal on certain transactions. When acting as principal, it will add a mark-up to any purchase and subtract a mark-down from every sale. This markup or markdown will be included in the price quoted to you. Further information is available upon request. III. INDIRECT COMPENSATION, PAYMENTS BETWEEN AFFILIATES, AND PAYMENTS TO SUBCONTRACTORS Indirect Compensation With respect to NFS brokerage services described above: Please see the attached Supplemental Fees and Compensation Schedule for information on indirect compensation received by NFS. As an unaffiliated subcontractor, NFS may have arrangements with funds and fund affiliates or other securities investment providers that are outside the knowledge or control of the USAA Service Providers. In addition, for indirect compensation received in connection with mutual funds, more detailed information may be provided in the relevant mutual fund s prospectus, statement of additional information, and annual report. Bank Deposit Revenue: If a Plan acquires a certificate of deposit ( CD ) issued by FSB or USAA Savings Bank ( USB ) for its IMCO brokerage account, IMCO will receive a fee from FSB or USB, as applicable, for IMCO s marketing and administrative services with respect to the CD. The amount of fee which IMCO expects to receive is typically based on the term of the CD and the amount of the CD, ranging from $0.10 per $1,000 of CD value for a 3-month term to $9.00 per $1,000 of CD value for a 7-year term. For accounts that select to sweep their uninvested cash into an FDIC insured deposit account offered by FSB, IMCO will receive $25.50 per account per year from FSB for recordkeeping and other administrative services. With respect to IMCO s investment advisory services described above: 2

14 Soft Dollars: In connection with selecting broker-dealers to effect security transactions in Wrap Program accounts, IMCO may receive proprietary and third-party research and brokerage services within the meaning of Section 28(e) of the Securities Exchange Act of 1934, as amended, from certain broker-dealers that execute securities trades for the accounts. Proprietary research generally includes access to conferences, analysis, forecasts, and in-house research. Brokerage and research services furnished by broker-dealers may be used in servicing all accounts, not all these services may be used in connection with the account that paid the commissions generating the services, and the level of trading activity for an account will vary over time. Accordingly, IMCO is unable to specify or calculate in advance the amount of indirect compensation it will receive in connection with the management of your Plan s account. See Attachment A for a list of brokers that provide IMCO soft dollar research and/or brokerage services. Additional information about IMCO s soft dollar practices can be found in the Brochure for the Wrap Program. Mutual Fund Revenue: To the extent that IMCO receives revenue from mutual funds with respect to a Plan account for which it provides advisory services, IMCO will rebate the amount of such Revenue to the Plan account or otherwise apply that amount for the benefit of the Plan account, as directed by the Plan. Gifts and Gratuities. The USAA Service Providers have adopted gift and entertainment policies in accordance with applicable regulatory guidelines that are intended to manage the potential conflicts of interest or the appearance of such conflicts and to help employees make appropriate decisions that are consistent with the best interests of the USAA Service Providers clients. There is no agreement or arrangement between the USAA Service Providers and third parties regarding the provision of gifts, meals, or gratuities to the USAA Service Providers employees that is based on the USAA Service Providers service agreements or arrangements with any particular client, and any such gifts, meals, and gratuities are not received by the USAA Service Providers employees by reason of their services to any particular client. In the case that such gifts, meals, and/or gratuities could be allocated to a Plan, under any reasonable method of allocation the value of such items received by USAA Service Provider employees likely would be of insubstantial value. Payments Between Affiliates Under its agreement with FSB, IMCO receives fees from FSB for IMCO s recordkeeping and other administrative services. These fees are described above under Bank Deposit Revenue. Under its agreements with AMCO and USAA Transfer Agency Company ( SAS ), IMCO receives fees from each of AMCO and SAS with respect to IMCO brokerage accounts that hold shares of USAA mutual funds. The fees IMCO receives from AMCO for its distribution and servicing with respect to its brokerage accounts that hold shares of USAA mutual funds are 0.15% of the average net assets of the USAA mutual fund shares in such accounts. The fees IMCO receives from SAS for its sub-transfer agency and related services are $20.00 to $25.50 per year for each non-money market Retail Class account and, for the money market accounts and Institutional Class, an amount not to exceed 0.25%, on an annual basis, of the value of the USAA mutual fund shares in such accounts. IMCO does not directly pay any individual person, including employees of its affiliates, for referrals to IMCO or recommendations with respect to investment products, such as Wrap Programs, offered by IMCO. However, as part of the overall performance evaluation of certain employees, all of whom are salaried, referrals to IMCO for advisory services is taken into account and can affect the member service representative s or financial planner s salary and/or company bonus. Specifically, with respect to employees who are in the Wealth Management Division, the number of accounts opened by IMCO as a result of the employee s referral is taken into account when determining that individual s overall performance rating which can impact their total compensation. As described above, IMCO may choose AMCO to provide certain sub-advisory services in connection with UMP. IMCO pays AMCO a fee that ranges from 0.05% to 0.26% on an annual basis of average advisory account assets managed by AMCO as sub-adviser. Payments to and from Subcontractors As described above, IMCO may choose one or more third-party investment advisers to provide certain 3

15 sub- advisory services in connection with UMP. These sub-advisers are: Atlanta Capital Management, Cambiar Investors, Luther King Capital Management and Robeco Investment Management. Depending on its agreement with the particular sub-adviser, IMCO pays the sub-adviser a fee that ranges from 0.30% to 0.35% on an annual basis of average advisory account assets managed by the sub-adviser. As described above, IMCO and FAI have entered into clearing agreements with NFS pursuant to which NFS, as an unaffiliated subcontractor, provides clearing brokerage services to Plan brokerage clients for which IMCO or FAI serve as the introducing broker. Pursuant to such agreements, NFS will charge IMCO certain fees and expenses and will net these charges against the compensation it receives directly from Plans, as described above. IMCO has established a settlement account at NFS through which NFS will credit the net surplus or require IMCO to deposit additional amounts to discharge the net amount due to NFS, on at least a monthly basis. NFS will charge IMCO clearing charges per trade that range from $0 to $45, settlement fees for international transactions that vary depending upon the country and principal value and generally range from $25 to $300, execution and conversion fees for certain international transactions that range from $15 to $40, and may pass through additional expenses charged by third party providers. Listed and OTC Equity orders directed by IMCO or FAI to a specific destination (as opposed to following NFS standard best execution logic) will be charged $.0004 per share routing fee (inclusive of third market orders). The minimum monthly clearing and execution charge is $200,000. NFS will credit IMCO with the interest from margin loans in US dollars in excess of the broker s call rate, as published in the Wall Street Journal, minus 25 basis points. NFS will debit IMCO for the margin interest income below the broker s call rate, minus 25 basis points. NFS will charge IMCO with all interest on US dollar cash debits in customer accounts at the broker s call rate plus 150 basis points. Pursuant to its clearing agreement with IMCO, NFS shares certain revenue it receives from mutual funds with IMCO. For additional information on compensation NFS receives from mutual funds, see the attached Supplemental Fees and Compensation Schedule. NFS will bill IMCO directly for certain transactions as described below: Full Transfer of Accounts Delivery (ACAT Exit Fee) Legal Transfer (a transfer of physical securities that requires supporting documentation) Transfer & Ship (DRS Eligible) Transfer & Ship (Non-DRS Eligible) Trade & Margin Extension Physical Reorganization Legal Return of physical certificate Bounced Checks Stop Payments $20.00 per event $90.00 per event $10.00 per event $ per event $12.00 per even $35.00 per event $60.00 per event $15.00 per event $15.00 per event NFS will also charge IMCO for certain transactions related to customer mailings, notifications, account verification and insurance, market errors and related fees, as follows: 4

16 Customer Mailings: Monthly/Quarterly Statement - Each $0.25 Standard and Basic Cost Basis Monthly/Quarterly Statement - Each $0.35 Detail Cost Basis Suppressed DVP Statement Each No additional charges IMCO-requested Insert Processing Each $0.10 Annual Summary Statement Each $1.25 Annual Detail Statement Each $1.50 Large Print & Braille Statements Each $35.00 Trade Confirms Customer & Each $0.50 Interested Party Only Quarterly Trade Confirms Each $0.50 Incremental Postage over 1oz As billed by vendor Prospectus/ Disclosure Document Each $1.50 Delivery Dividend Checks Each $0.50 Tax Forms IRS Form 1099 Each $0.75 IRS Forms 5498 & 1099-R Each $0.75 All Other IRS Forms Each $0.75 Fixed Income Redemption Each $0.60 Notifications Customer enotification: Monthly/Quarterly Statement Each No additional charges enotification Annual Summary Each $0.75 Statement/Annual Detail Statement enotification Insert Processing (Online Display) Per Stored Insert $ including storage for not longer than 120 months Trade Confirms enotification Each No additional charges Delivery Failure Letter Each $0.25 Change of Address Letter Each $0.25 RAP enotification Letters Each $0.20 Additional enotification Letters Each $0.20 Available Electronic Confirming Each $0.50 Prospectus Tax Forms enotification Each $0.50 Account Verification and Insurance: Patriot Act Per inquiry $0.38 Information Inquiries Per inquiry $0.38 Revised Account Profile (RAP) and Per letter $0.25 New Account Profile (NAP) 5

17 Market Errors and Other Fees: Unauthorized Short Sales Each $ Restricted Stock Transactions Each $ (Full Service) Restricted Stock Transactions Each $40.00 (Sell without Approval) Errors (market action required in Each $15.00 NFS acct.) Other Postage & Handling (All Statement Types, Tax Forms, RAP/NAP, enotification letters) Exchange or Other Clearing Corporation Fees As billed by vendor As billed by vendor Manual One-Time Retirement Each $20.00 (OTR) Distribution Pursuant to the Technology Products and Services Agreement between IMCO and NFS, NFS will charge IMCO the following transaction fees: Market Data Real-Time Static Quotes - U.S. Real-Time Static Quotes - Global $0.01 charge per quote for each U.S. real-time quote requested over 2,200 quotes per month $0.05 charge per quote for each Global real-time quote requested over 2,200 quotes per month AT&T Communication Costs Domestic Charges: The domestic AT&T communication charge is the current AT&T tariff and it is subject to change by AT&T. The charge is: $0.041/min for inbound megacom rate and $0.085/min for readyline rate. Transferred Call Costs: $0.20 for every transferred call. Data File Transmissions Transmission -- Request for Prior File Transmission -- Base File Transmission $60 per file per request $180 per file per request Trading Interface: $1.50-$1.75 each ticket charge lv. COMPENSATION FOR TERMINATION OF CONTRACT OR ARRANGEMENT None of the USAA Service Providers receives any compensation in connection with the termination of its services to your Plan. 6

18 V. INVESTMENT-RELATED INFORMATION If the Plan is an individual account plan that permits participants or beneficiaries to direct the investment(s) in their accounts, and if one or more designated investment alternatives ( DIAs ) are made available in connection with IMCO s or FAI s brokerage services, the following information for each DIA may be found in the current prospectus or other disclosure materials of the issuer of the DIA (copies of which have been provided to you): (i) the total annual operating expenses, (ii) the DIA s name, (iii) the type or category of the investment, (iv) performance data, (v) the applicable benchmark for the DIA, (vi) fee and expense information, (vii) the name of the DIA s issuer, (viii) the objectives or goals of the investment, (ix) principal strategies and risks, and (x) portfolio turnover rate. 7

19 Attachment A Soft Dollar Arrangements With respect to the Wrap Programs, IMCO has soft dollar arrangements with the following brokers: AllianceBernstein L.P. Deutsche Bank Securities Inc. J.P. Morgan Securities, Inc. Strategas Securities LLC and Strategas Research Services UBS Securities, LLC 8